Here are 10 ways you can find yourself out of business within 12 months. There are many others, but these are on my mind as of today, Sunday.
1. Use your commission as a tool to get more clients. When you buy your clients you send the message that you may not be as valuable as the competitors. This "reaching" tactic demonstrates you very likely have less $ to grow your business for both you and your clients. After you pay for costs of doing business & taxes you'll find yourself with very little revenue to build your future on.
2. Ignore social media, online prospecting, technology, extra education & making virtual "buddies." Every one of these ingredients are how today's real "Top Producers" are making a living and putting food on the table. A good mix of traditional methods swirled with today's practices create the best opportunity for Realtor success.
3. Real Estate is not a job, it's a career and 7 day a week dedication. If you choose not to work on the weekends, so be it. That's your choice. Your sellers however, are getting the shaft if you ignore calls, delay the presentation of offers, or brush off emails until Monday. We all deserve time off, but your sellers DEMAND 7 day a week attention. Even if it's a quick phone call or follow-up about an offer.
4. The yes man rarely makes a decent income in this business. Buyers & Sellers don't hire you to agree with all that they say. If that was the case, they wouldn't need representation. If you don't have a backbone or lack confidence then you'll find yourself frustrated, pissed off and broke. You'll more likely blame the economy, market conditions or you bad back for your lack of income.
5. Take advice from failures, low producers and burned out Realtors. This is sorta like getting advice from divorced people on how to have a "happy marriage." If they practiced what they preached, they'd still be married.
6. Fall in love with yourself. Buyer's & potential sellers have very little interest IF ANY about your face & how many different ways you can plaster it on magazines, billboards, grocery carts and even fliers. Consumers want information, substance, depth & somebody that has more than a pretty face or creative pose.
7. Avoid hanging around people who do nothing but "talk about real estate." Instead circle yourself with people that actually help consumers buy & sell homes. Everybody and their brother wants to be a coach, Team Leader, Power Be Like Me Guy or something else that has NOTHING to do with the grind of what we do everyday.
8. Over obsess with social media and you'll find yourself at the top of all GOOGLE search engines with no listings and not a single worthy buyer. You'll do this because you became too involved with Twitter, Facebook and even Active Rain.
9. Know when to say when. Nothing screams "rookie" more than the agent who doesn't know when to keep his or her mouth shut. The consumer might just assume you know what you're doing until you "talk" them into thinking something else. Ask your broker, mentor, buddy or ANYONE before you show your entire ASS to your most important asset, your clients.
10. You never know it all. If you don't practice humbly, the business will force it upon you. Fly beneath the radar and respect the process at all times. Treat every transaction as genuine as possible.
The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.
Love the list. I needed a little laugh. Numbers 5 and 6 provided it for me. I often have told others that agents self select themselves out of the business by the habits they form in action and attitude.
Good list, Nino. Seems lately lots of folks are selling "air time" in the industry.
Hi Greg,
Thanks for sharing your informative and interesting post.
Greg- I'm going to re-blog this, its funny, well written and TRUE.
I believe your list is applicable to Loan Officers as well.
Great post!
Dang - I want to get new photos taken - there goes the poses - LOL :)
Ralph said this one needs to be flagged....so flagged it be. Good going G-man!
Greg,
Great list!
I've been preaching that"you become who you assoicate with" for close to forty years, just like my Grandfathers taught me.
The only thing I'd add is: Get a life! Real estate is a people business, hermits seldom succeed! Get out with people! It doesn't matter what you do so long as it's with people, like you said it's a life style! You are always prospecting. When you can involve your family! Families buy allot more homes than singles!
Bill
Well said Bill, thanks for the thought.
Laraine - hey, thanks!! that's a huge compliment.
Rita - :(
Melissa - awesome. I hope others will enjoy it!
Don - hey, thanks sir! Please stop by again.
Andrew - you're back!
Frank - glad you enjoyed it.
Let's add one more:
Set your goals so low that anything you accomplish you feel as though you're successful!
Wow. I like Craig's addition. I seem to be following him all day. But, back to the subject. I am a seven-day realtor. I love working with my buyers and sellers so I guess it's not work. Oh, yeah, it is. It is negotiton, and all that behind-the-scenes work we do that we never get credit for....like marketing and staging, and telling them the hard facts of life....with date. Loved your list.
Greg~ another good post. I agree with all 10. And I like Bill's addition
Hey Greg! Great post! as for item #3 rather than a job or a career I tell people (when they ask about getting into the business) its a lifestyle its 24/7 no matter where you go or what you are doing you are a Realtor.
All the points you are making are #1. Good post!!
This is a very interesting and worthwhile list. Thanks for sharing.
Terrific post and the boost I needed to stay on top of Social Networking. Thanks for the laugh on #9.
As John says, and I concur, it is a lifestyle. Good thoughts and list for your post, Greg!
Greg, excellent post. I had to LOL @ # 6 - falling in love with yourself. There are a lot of agents who do just that!
All are great points, Greg!
Brilliant advice and full of wisdom. Sounds like you've been around the block and seen a thing or two. Thanks for sharing, great post...
G-Money !!!! I love it ! Especially #8 and #10 !
Very very savvy info for newer agents, and reminders for some more seasoned ones !!!
Great list, Greg and oh, so true!
#5 on your list really resonates with me. I almost "fired myself" from working with a buyer on yesterday and after we had a discussion she said she wanted to continue to work with me because I spoke the truth and that I always "just tell it like it is"
The economy and the new landscape of real estate may set the stage, but in the end it is your performance. Beyond refreshing post!
Thanks for the pointers Greg!
As an agent still in my first year it took me about 3 months of mistakes to create a steady game plan and you covered a lot my theories.
Well, my photo at least shows the front part of the horse.
Great post Greg. I think you nailed this one! This is a must-read for new agents or anyone thinking about getting into the business. Anyone looking for a Monday - Friday, 8 to 5 job need not apply! I try to give myself one day off during the week. Just to get caught up around the house and do some filing. Other than that, I'm pretty much available within reason. I know that my clients have time on the weekends, not during the week. Sometimes you just have to go with the flow.
Thanks for the insight!
Great list. Many of us need to re-think the amount of time we spend with social media (#8).
Greg, I completely disagree with #8. If you have a compelling social profile that links to your main site and gives out your contact information, I don't see any reason why that won't generate leads. Being at the top of Google with a social profile for a real estate related search is an asset whether or not that is your main site. Its one thing to spend too much time on social media and neglect clients but if your social profile/Activerain ranks at the top of the engines for a relevant search, that means you're doing something right.
Great post - well written
Greg, great post. I really resonated with # 9 and 10! As a newer agent, these are very good pieces of advice, and well-taken!
The 24/7 point will generate the most responses, I think. While I myself answer the phone 14/7, there are many Realtors -- who I believe are very sucessful -- who do not do so. They don't care if it is inconvenient for other Realtors who may want to show their listings, but they obviously feel that it does not affect their ability to do the job.
Greg, I think you need to add, know when to walk away. I have said many times it takes a seasoned Realtor to know when you come upon that lead that is going to turn into a nightmare. As Brian Buffini says, don't work with Jerks, they will just refer you to there jerk friends.
This is a great post and list. I think one more should be added as well. I especially love the voice mail on some agents phones that SHOUTS, HEY, I'M A PART TIMER! such as "I will only be returning calls between 12 and 1 or after 5 please leave a message and I will call back at one of those times" In other words I'm at my desk of my REAL job and I can only help you when it is convenient for me too. Your clients don't have to know why you don't answer the phone just get back to them as quickly as possible.
I also view this job as being in total control of my time, even if I have to work a few weekends or several I can still schedule other important times of when my family has something important and I need to take off a day or two during the week to be with them. It all evens out in the wash. How many other jobs can you schedule around your young childs soccer, football, baseball, dance recital or just good ole family time? Not too many.
I've been in our business for 32 years now, so I've hired, mentored, coached, trained, and sometimes fired a very large number of real estate agents. Your advice is dead on target and most especially in our current economy. I am reblogging so that my own associates have the opportunity to abosorb your insight and wisdom. Thanks. Great Job!
Great post Greg!
I would have to say I somewhat disagree with point #6. I am with a relocation company that promotes our agents on our website, and agents who never submit their photo get virtually no business compared to the other agents. Also agents with low quality photos tend to get a lot less business than an agent with a professional photo. I (as well as many people) tend to be very visual, and I think people can definitely connect with someone based on a photo. There is definitely such a thing as over doing it, but I do think having your photo with your information is a huge plus.
6. Fall in love with yourself. What is up with this? I've always had a problem with REALTORS® pretending to be movie stars. I'm working on new business cards and my photo WILL NOT be on it. (Having said that, that's my face on the left).
My favorite is number 10.
#6 - Love this one! My photo isn't on my business card but I have clients who tell me it should be. I could go either way. But if I DO add a photo, it will be a current photo.
From what I've seen in our market, some agents fell in love with a 20-year younger version of themselves since they continue to publish a photo that's at least 20-years old -- LOL!
This is great! Exactly right!! And doesn't it seem simple when you put it into a list?
Thank you for putting so much time into compiling this very astute list!
You're so right! These are all excellent ways to run yourself out of business. And I agree with the guy who added, "Know when to walk away." (Hey, isn't that a line in a song...) I learned this lesson the hard way last year and finally figured out when to walk away.
Greg,
I agree with your ten choices, particularly # 8..... I time block x amount of time for each activity. Otherwise it would use up ALL the time in a day!
Great list. I have done my best when I surround myself with great people. And have done my worst when surrounded by less then stellar people. Wish my teenagers would read this...
Greg: Great list. I agree with you 100%.
I do not read all the blogs but this one caught my eye---excellent and thank you! I needed this kind of kick.
#9 is some of the worst mistakes a realtor makes. I think the list is wonderful.
So true, Greg and as another person stated, all sould be No. 1! Thanks for the great post and congrats on the feature!
Greg, I recently encounterd a gentleman REALTOR from your side of town that was SO full of himself.(He often refers to himself in 3rd person!)...he would not shut up at closing talking about himself. His head barely fit through the door at the title company it was so full of hot air. He was so busy bragging about himself at closing to my buyer that we could not get out of there fast enough! There was No need for all of that as we were CLOSING. We didn't care about his marketing efforts...we just wanted to sign and get the keys. #6 an #9 on your list was such a problem...I nor my client want to run into that guy again! Then, he had the paper work messed up and didn't have the keys! He certainly chased us off with his overbearing attitude about himself.
#3 Even when you are out of town as we were this past weekend, you are still working. You can't really get away if you have active listings and buyers. But that's ok...
Hi Greg, Fun read. Your #9 ( Keep your mouth... ) is so important. I've learned that the less I have to say the more likely the customer will ask an important question !
Excellent advice,I try to live by all of these every day!
What a great list of reminders for us all. Thanks so much Greg.
Greg, thanks for such a concise list.
I LOVE #9. One of my first deals was a huge 1.7 mil. I stayed very visible, accessible and quiet unless I was spoken to. They (my very savvy buyers) read it as quiet confidence.
I'm conflicted with #6 and #8. Everything in moderation is the rule I like to follow.
Also, #3 resonates with me because music has been my career for the last few decades, and I still play a lot. But I love Real Estate. What works for me is I always answer my phone, emails and texts. When there isn't enough time I do my best to be effective and efficient. My clients like the results.
Great list! Could comment on each one, and will hold myself back with only a couple. Don't over obsess about social media -- had to laugh at top of the google search with no clients! ANd think the advice to combine new technology with the tried and true basics is great.
Good post and how true. I see a few problems for myself in there and need to work on it.
I especially like your point about hanging around with people who really do real estate. That only makes us better!
Great Title for the post, and great list!
Good job and a very good list! With your permission 'd like to share this at my next office meeting. Good stuff!
Greg,
Great Post! I still find myself guilty of at least 3 of them! My biggest problem is Shutting UP!
Greg:
Well put, well said, self explanatory and to the point and I hope more get to read this post.
Ty
Don't forget about overpricing your listings.
Thanks, Greg! Love the list! :)
Amy Law - lol, did he really? lol.
Gary - Absolutely!
Dimitri - Thank you for the comment and insight!!
RE/MAX Preferred Assocites - That's a HUGE compliment coming from that much experience you have. Thanks a lot!
Greg,
Thank you for a great post! I have copied and paste it and sent it to my agents.
Great list, fortunately I don't have to worry about the "pretty face".
Hey Greg, you've done it again! Love reading your posts and this one is right on! The 24/7 part....I'm all over that one today; sick as a DOG and doing a relist plus negotiating two other properties in between snorfles and hacks, LOL!
Thanks again for the great reminders!
Greg, #9 is sooo important. I would this applies to both rookies and non-rookies alike!
Good list Greg, except I sort of disagree with the first one. Price is a tool to attract new customers; however, it is not a tool for longterm growth because someone else can always come along and underbid. A company (and Realtor) need to excel at something else other than price.
Greg,
Great job, good advice. In regards to #3, I take Sundays off for the most part. I feel it is important to give my family and my maker most of my attention that day. I prefer to give my brain a rest from everyday cares and needs. It has caused me to miss out on occaision perhaps on a potential client. It is still possible to meet the needs of clients with modern technology. I spent a week on vacation some time ago and was able to keep up with all of my clients through the www. Most of them had no idea I was even out of town. I like most of you work way more than I used to at my 9-5 job but I love it. If I didn't work Saturdays I would miss out on so much. Frankly I have very few calls or emails coming in on Sundays so it all works out pretty well for me. Very few people I have dealt with have a problem with me following through with my own convictions. All in all I am so much more involved in my kids education, hobbies, sports, and other events because I can plan to include them in my life.
Greg,
#9 is one I have to work on. Sometimes in trying to be helpful I've given too much information. Quiet confidence. I like that.
There's an old maxim , 'Better to keep your mouth shut and be thought a fool than to open it and remove all doubt.'
#10 Very valuable with a dose of humble also.
Greg,
Once again you wax eloquently! Great points, great post!
Greg,
I always enjoy reading your posts. I get a daily feed from ActiveRain on blog posts, and yours always show up at the top of the list! Wonder why? Because the information you give to your readers are "top shelf."
And that's not said just to "stroke" your ego.
I've been reading your posts for a long time and I've found a lot of useful information in them to include in my new book (soon to be published) and soon to be available on Amazon.com.
I just posted one of the chapters from the book on my blog where they can read an excerpt from the book. It "dove-tails" -- in a way -- with what you wrote here.
I know a lot of people are "stressed" during these economic times, but there's so much of that they can automate and still not alienate their sellers and buyers. It's just all in the way you handle them.
I look forward to reading more of your wit and wisdom. For such a young guy, you've got a lot and learned a lot from this industry.
Thanks for passing it on to the rest of us.
Regards,
Ernest O'Dell
Great Advice. This is a list that every agent should receive when they get into the business. A wise person once told me "a smart person learns from their mistake, but a brilliant person learns from other people mistakes." thank you for the post!
Thanks Greg: Great laundry list. Having just moved over to the sales side from 17 years in the lending world these seem like some pretty good advice for the beginner. ~Doug
that was a really good post --- good job man -- you nailed it
Well spoke, Greg. Time for me to subscribe to your blog. Keep on teaching. Thanks.
#11 Decide if you want to succeed or not. If you do get to work, take great care of people and know the market better than anyone else. You won't have any true competition.
Thanks for the great post
LOL as always with your posts. You and I have the same sarcastic humor. ALthough I don't post mine often...thanks for themorning laugh!
Ernest - Man, that really is awesome to hear. I really appreciate you reading the blogs, really.
Randy - I'm the same way. I try to take Sunday's off. I do answer the phone and do what I got to do "from the house." I love the part about recharging our brains. Lol, great way of putting it.
Greg, I post a regular series of articles on the marketing and technological side of the real estate industry.
I try to post here on ActiveRain as often as possible, but don't always keep the same consistency as I do with my other channels.
I have found that a lot of real estate professionals experience the problems and temptations that you outlined in your post, and I think a lot of it is done out of desperation from these "down" times. If they can see the opportunities that lie in article writing, and submitting them to their local media, they will begin to have a much more loyal following.
Can they get some of their life back? Can they eventually regain control of their weekends and personal time? I think they can.
All they need is the proper tools to automate that part. Keep up the good work and writing with your wit and wisdom.
Regards,
Ernest O'Dell
Being new to the (US) business of Real Estate I have not had enough time to make all the mistakes - quite a list! Very well compiled.
I have managed to surround myself with a large number of very positive people in a vibrant office for my protection and education. Monday to Friday early starts with group activities right up my alley. I have previously used Gollum (Lord of the Rings) on my business cards because he looked better than me.
Larry - Best of luck to you!
Ernest - Easy on the self promotion sir! Sorta not the idea when leaving a comment. :-)
Love the list, even if there's perhaps a bit too much truth in it. These are ways to take yourself right out of the business.
Sorry, Greg! I thought I was providing informative links. I took the links out.
Regards,
Ernest
Entertaining post
LOVE THIS... am reblogging it.
Nice post. agree with Frank on 5 and 6. Thanks, Take Care
Great list Greg! You have done it again and again, given out good sarcastic advice. Nice Job!
Thanks Greg for your well thought out list for agents. You need to be professional, honest, confident yet humble and to always be of service; not what's in it for me but what I can give to someone else.
Love the list G-man.
But I am going to take the other side on #6. While I do agree that I don't want to put my eggs on your face in every store in town, I think a fair amount of self-love with a picture that most people would recognize is essential. I just got stopped in a local grocery store yesterday from someone recognizing me from a banner ad I am running, we chatted, she took my card. We have got to be out there, but not everywhere out there.
Spoken like a true veteran. These are great words to live by, especially the part about keeping your mouth shut. Thanks for sharing your wisdom with us!
I don't agree with your 24/7, but the rest I do. I am available to clients by appointment on Saturdays and I don't work on Sundays as a general rule, but I will always negotiate a contract or return a call from a fellow agent. I find that my clients are totally understanding for the most part. There is no such thing as a real estate emergency. I will show houses on Saturday if someone makes an appointment with me during the week, but I'm not sitting around just in case. I have a life, too, and I tell my clients all this in advance. I think however an agent decides to work their business is fine as long as the set the expectations at the very beginning, honor what they say, and the client is ok wtih that from the get-go. The agent also has to be flexible.
AMEN Charlotte! I also set expectations right from the get-go and make sure to let my clients know that an exhausted Carole is not the most effective Carole, so yes, I do take one day off per week!
I suffered from #4 for the first 6 months of selling Real Estate. It amazed me how much more business I got when I learned to say "No".
I like the last one the best. Appropriate humility brings the right level of confidence from your client.
Greg, great thoughts. I appreciate you sharing. My favorite is the one about divorced people giving marriage advice. Makes me wonder why people continue to call in to "Deliliah" on the radio, since she bombed in marriage.